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The "Sequester" Is Really An Increase

Mike

Well-known member
The $995 billion Sequester Cut Is Actually a $110 Billion Spending Increase

The Congressional Budget Office gives its baseline budget projections for fiscal years 2013 to 2023 in its February 5, 2013 Budget and Economic Outlook: Fiscal Years 2013 to 2023. Table 1-5 shows how the CBO incorporates the $55 billion per year in sequestered defense cuts and the $37 million per year in sequestered non-defense cuts into its projections of discretionary spending.

The sequester “cuts” are subtracted after increasing appropriations subject to the sequester at the rate of inflation and adding back in more than a trillion dollars (over ten years) of spending exempted from the sequester.

The sequester has been advertised as “cutting” discretionary spending over a ten year period by $995 billion. After inflation adjustments and exempting more than a trillion dollars of defense and non defense discretionary spending from the sequester, the CBO projects (in its Table 1.1) discretionary spending to increase by $110 billion over the decade. There is no actual $995 billion cut after the CBO applies its magic adjustments. Rather there is a $110 billion increase.

Sequester alarmists will respond that it is impossible to run the federal government without annual inflation adjustments and without exempting certain government spending. We American voters might respond that most of us do not receive automatic inflation adjustments to our earnings and we are expected to tighten our belts when times are tough and our personal debt has gotten out of control.

Whatever the case, it is hard to characterize a $110 billion increase as a draconian cut that will bring America and its federal government to its knees.
 
A

Anonymous

Guest
Further, it turns out the dollars-and-cents impact this year is not nearly what officials have been claiming. While officials typically say the cuts this year add up to $85 billion, the Congressional Budget Office estimates actual spending will only fall by $44 billion this year.

The $85 billion figure refers to "budget authority" -- or what the government can allocate this year, but actually spend over several years.


Read more: http://www.foxnews.com/politics/2013/02/27/economic-armageddon-impact-sequester-may-be-over-hyped/#ixzz2MtobXNHR




House Speaker John Boehner, on NBC's "Meet the Press," conceded he simply couldn't predict the impact. "I don't know whether it's going to hurt the economy or not," Boehner said. "I don't think anyone quite understands how the sequester is really going to work."

While the cuts represent just more than 2 percent of the federal budget, they only target a relatively narrow portion of that budget. When that is taken into account, the administration says the cuts really represent 9 percent of the non-defense budget and 13 percent of defense spending.

Some top Republicans, including Sen. John McCain, R-Ariz., continue to press for changes to shield the military from drastic cutbacks. The Pentagon for months has warned that the sequester will damage military readiness.

Lawmakers on both sides can still come together on an agreement to target the cuts more carefully. Republicans, though, have insisted throughout that they will not allow for any revenue increases, something Democrats demand -- and it's unclear whether the two sides will bridge that gap, as Congress moves next into negotiations over a budget measure that expires at the end of the month. But the prospect of deactivating the cuts altogether, an option some Democrats called for in the final throes of sequester panic, appears to be fading.

The $85 billion in cuts apply to the remainder of the 2013 fiscal year, which ends Sept. 30. But without a deal they will continue slashing government spending by about $1 trillion more over a 10-year period.


Read more: http://www.foxnews.com/politics/2013/03/04/despite-washington-angst-officials-appear-resigned-to-sequester-cuts/#ixzz2Mts2K7Qt

So is FOX News again printing false info... :???:
 

hopalong

Well-known member
no more so than the rest of the media and foilks like you oldtimer...

Her is your help dick
www.dailystrength.org/groups/liars-anonymous
 

hypocritexposer

Well-known member
Oldtimer said:
Further, it turns out the dollars-and-cents impact this year is not nearly what officials have been claiming. While officials typically say the cuts this year add up to $85 billion, the Congressional Budget Office estimates actual spending will only fall by $44 billion this year.

The $85 billion figure refers to "budget authority" -- or what the government can allocate this year, but actually spend over several years.


Read more: http://www.foxnews.com/politics/2013/02/27/economic-armageddon-impact-sequester-may-be-over-hyped/#ixzz2MtobXNHR




House Speaker John Boehner, on NBC's "Meet the Press," conceded he simply couldn't predict the impact. "I don't know whether it's going to hurt the economy or not," Boehner said. "I don't think anyone quite understands how the sequester is really going to work."

While the cuts represent just more than 2 percent of the federal budget, they only target a relatively narrow portion of that budget. When that is taken into account, the administration says the cuts really represent 9 percent of the non-defense budget and 13 percent of defense spending.

Some top Republicans, including Sen. John McCain, R-Ariz., continue to press for changes to shield the military from drastic cutbacks. The Pentagon for months has warned that the sequester will damage military readiness.

Lawmakers on both sides can still come together on an agreement to target the cuts more carefully. Republicans, though, have insisted throughout that they will not allow for any revenue increases, something Democrats demand -- and it's unclear whether the two sides will bridge that gap, as Congress moves next into negotiations over a budget measure that expires at the end of the month. But the prospect of deactivating the cuts altogether, an option some Democrats called for in the final throes of sequester panic, appears to be fading.

The $85 billion in cuts apply to the remainder of the 2013 fiscal year, which ends Sept. 30. But without a deal they will continue slashing government spending by about $1 trillion more over a 10-year period.


Read more: http://www.foxnews.com/politics/2013/03/04/despite-washington-angst-officials-appear-resigned-to-sequester-cuts/#ixzz2Mts2K7Qt

So is FOX News again printing false info... :???:


I posted the actual amounts, more than a week ago.

Are you not listening?
 
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